Third Term Loan definition

Third Term Loan is defined in Section 2.1.7(a).

Third Term Loan means the $1,300,000 outstanding principal balance term loan made by the Bank pursuant to Article III hereof.

Third Term Loan shall have the meaning given such term in Section 2.5 of this Agreement.

Examples of Third Term Loan in a sentence

• Borrowers ratify and confirm the Security Documents, acknowledge that they are valid, subsisting, and binding, and agree that the Security Documents secure payment of the Notes (including the Term Note, the Revolving Note, the Second Term Note, and the Third Term Note), the Loans (including the Term Loan, the Revolving Loan, the Second Term Loan, and the Third Term Loan), and all other Secured Obligations.

• The Borrower likewise promises to pay interest on the outstanding principal balance of the Third Term Loan made by the Lender to the Borrower, at such interest rates, payable at such times, and computed in such manner, as are specified in the Loan Agreement in strict accordance with the terms thereof.

• In the event the Third Term Loan is not funded on or before May 23, 2012, the Lenders’ commitment to make the Third Term Loan shall be terminated and the total commitment shall be further reduced by $12,500,000.

• The Borrowers shall repay the outstanding principal of the Third Term Loan in eleven (11) equal, consecutive, monthly installments of $10,972.22 each, on the first day of each month beginning January 1, 1997, and a final installment of all remaining principal on December 1, 1997.

• Interest shall accrue on the outstanding principal of the Third Term Loan at an annual rate equal to eight and one-half percent (8.50%) and shall be payable monthly on the first day of each month beginning January 1, 1997.

• The Term Principal Debt under, and as defined in, the Restated Credit Agreement, other than as to the Third Term Loan thereunder, shall be repaid in full on the Closing Date with a Revolving Loan hereunder, and all of the other existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.02) shall be repaid in full and all security interests related thereto shall be terminated on or prior to the Closing Date.

• Borrower's obligation to repay the Third Term Loan is evidenced by its $1,500,000 Term Note dated October 30, 2003 (the "Third Term Note").

• Any survey required by the Administrative Agent shows any matter not existing as of the date of the survey delivered on or prior to the initial Term Loan made under the Third Term Loan (as defined in the Restated Credit Agreement) which is unsatisfactory to the Administrative Agent in its reasonable credit judgment, and such matter is not removed within a period of thirty (30) days after notice thereof by the Administrative Agent to the Borrower.

• Commencing on October 1, 1997, and on the first day of each calendar month thereafter, Debtor shall pay to Bank sixty (60) equal monthly installments of principal together with all unpaid interest as it shall have accrued on the Third Term Loan amortized over such sixty (60) months, all as more fully provided herein and in the Third Term Loan Note to be executed by Debtor at the signing hereof.

• Borrower has agreed to pay the principal amount of the Third Term Loan in sixty consecutive monthly installments each in the amount of $25,000, commencing December 1, 2003, and the entire unpaid principal amount of the Third Term Loan shall be due and payable on November 1, 2008.

More Definitions of Third Term Loan

Third Term Loan means any and all advances made by Lender to Borrower under the Third Term Loan Facility.

Third Term Loan is a loan made by Bank pursuant to the terms of Section 2.1.7 hereof.

Third Term Loan the meaning specified in Section 2.01(a).

Third Term Loan has the meaning assigned to it in Section 1.1(b)(vi).

Third Term Loan means the multiple advance Loan in the amount of $25,000,000 made under the Term Loan by Lender to Borrower on or after the effective date of the Fourteenth Amendment to this Agreement to finance further costs and expenses of the Subject Expansion.